AI (Artificial Intelligence) is one of the most impactful new technologies that are transforming how businesses operate in this day and age. Changing the way businesses operate, make decisions and compete against evolving landscapes. This study also examines the application of AI in management and discusses emerging trends such as generative AI, agentic systems, augmented analytics, and intelligent automation. It highlights the use of AI to facilitate efficiency, strategic decision making and innovation across all areas. Simultaneously, it adopts a critical view of challenges such as ethical dilemmas, data privacy-issues, job loss and other implementation short-comings. From the current study, the paper comes to a conclusion that AI will not replace human managers; rather, it is a strategic enabler and accelerator of human intelligence leading to a supervised-augmented model of management.